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tv   MONEY With Melissa Francis  FOX Business  May 17, 2013 5:00pm-6:01pm EDT

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and congressional members you know they will do this will push him on the fed plan as to when they will begin to unwind 17 when does ben bernanke ever have an effect on the market? money with melissa frances next. >> here is to make money today. bill gates has taken the title of the world's richest man today and not looking back. microsoft shares hit a fresh five-year high
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hoodoo much and when? and we still don't know dave answer to the question and this could go on for a long time. i will make a prediction this has this rolls on there was not just conservative organizations but conservative donors who were also targeted and how could you possibly get to the term targeted? when they were basically selected because of their political ideology. the word that comes out is targeted. i do think the commissioner did no good to himself or the democrats and only made the republicans angry. >> get back to the original point* alan to know where this started and rick thinks that he knows but whose idea was this originally?
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did make it any closer to that in the hearings? >> i don't think so i want to know when this started and everybody does that treasury and the president wants to know this is not something that was sanctioned but a lot of people who want to believe this is a massive political conspiracy and even senior treasury officials are not in charge of what happens day to day at the irs. so the idea this was driven by a senior political officials is not going to be the case but we need to figure out where it started and the irs has had these problems for decades with the mandates of the enforcement agency i was at the treasury department in the '80s. melissa: how are they a service agency that was a better'' when he said we're not doing a good job of customer service. who is your customer?
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i feel like the victim. fluid is your customer the government or the politicians because then you are because you target people to get more money. how is that? >> i think i do but you can find a misuse of the irs in every administration. i have dealt with them as an attorney and a massive audit somebody figured out that a lot of the applications did have looked at the time frame they were in.
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melissa: wait. >> called on the allegation is made this is a few rogue agents. here is the important point*. the house ways and means committee sent an inquiry that says check into this we have allegations they were pinpointed but they said you are paranoid. melissa: we have to go. >> we just guarded. melissa: we will debate this more. [laughter] next, state workers are recruiting people for food stamps and they claim it helps the state's economy. maybe it is. wait until you hear the reason why coming up.
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[ man ] on december 17, 1903,
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the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzs are. [ laughing ] [ woman ] can you hear me? and you hear your voice? , it's exciting! [ man ] touchdown confmed. we're safe on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪
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♪ melissa: we have heard all about job recruiters but you know the state of florida as
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recruiters to convince people to go on through the stands? fox news joins us from miami with the details. what is going on? >> these every jeffords targeting the one group that has been the most resistant to excepting food stamps, a senior citizens. >> they never thought about applying food stamps and tell today. >> you never applied? i am glad you will do it today. it is her job to sign them up and the employee crisscross four counties looking for those eligible but not receiving the stamp benefits. it bring $6 billion per year into the economy but for some explosive growth is of a cause for concern. >> it creates a bad incentive for state government to try to get as
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many people on the program as they can because they know the federal taxpayers paid for it. one-third of florida seniors to qualify for food stamps take them it is a prime target for recruiters. >> it just feels it is the pride and said shame all bottled up together. >> they are still on the sense is retired bus driver and his wife by a dated bread and dented canned goods there is food but no insurance on the mobile home in the hurricane zone. >> there are 3.6 million people in florida receiving food stamps that number is more than double the total of five years ago. >> i know it sounds crazy with a former chief
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economist welcome back to the show. >> great to be with you. melissa: and a standby florida would do this to bring $6 billion in to the states from federal coffers that is money that then people spend. the united states economy is good? >> it is good for florida not necessarily for the budget deficit. what we have seen increasing number of people are on food stamps. we need to cut back. one committee cut it by 2.5% melissa: people would be proud that florida doubled the people on food stamps that if you qualify you must need the help and aiming at wind into% participation if
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you qualify that is what it is therefore will be some the 5% of the people right now that qualify actually getting a. why is that wrong? >> programs automatically a sign people up when they sign up for other assistance as someone they think they don't need food stamps but help with the energy bill but then it automatically get on food stamps with energy assistance. the even give them energy assistance to automatically qualify for the food stamps that is the automatic program the house would cut back. melissa: if you say you qualify but don't need it what is the harm? >> having that entitlement you lose that so you face the high tax rate. the more entitlements you have a harder it is to go out into the working world and what many people who do
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need the food stamps and what some people need is a job to create jobs and figuring out why there are mo employment opportunities in the united states. wide is gm go to china to make cadillacs why don't they make them here? melissa: it is taxpayer federal money directed into this program that could be directed to other programs more efficiently over time. >> or go back to the taxpayer to stimulate the economy but spending 80 billion per year. melissa: god forbid it goes back to the taxpayer. up next have the unprecedented backlog for the new range rover is in economic sign of the times. then head of jaguar than
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drover is here to explain. tech lager is so unconcerned of the gogol's lack of privacy he showers with it. that is tim. [laughter] congress begs to differ could they cracked the breakthrough product?ho he joins us with reaction in he has his clothes on. i promise. can you ever have to much money? one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years.
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♪ all stations come over to mithis is for real this time.. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connectg today's leading companies to places beyond it. siemens. awers.
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od. helping the world keep promises. melissa: hughes says the economy is in the dump? no one that is waiting for a new range rover. the starting price for the luxury sgb is the most $90,000 but that hasn't stopped some many people from wanting it that there
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is the yearlong wait less. the 2013 model sold out after a few weeks on the market is this a clever move on the of makers party drive of demand or is the economy doing better than rethink? north american president of jaguar land rover joins me now. this is a very popular car in wall street they think it is ischium and we don't have them, because they are traitors and they say this many people want to the car. >> but the real story is they have hit the bull's-eye. the original suv in the marketplace our sales are up 28%. melissa: you didn't know if
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it would explode? capacity? is there really tear you can get the car for a year they are not hiding somewhere as of p.r. stunt? >> not many car manufacturers that are on 247 production. there will always be a little spiked shoes are frankly but we are extremely happy the way things are. melissa: you could be making more money just get another factory. people don't believe it is true recalled nebraska, maybe people in omaha would not be as excited but no matter what it is the same deal why not open another factory? >> i think that is the exaggeration dealers are in the habit of getting a car
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and they are savvy and we showed the car in september there were a lot of reorders so those to get the first quarter knew that was the case but nobody expected to walk away on sunday. melissa: most americans do that if you want to buy a car if you're willing to spend 100,000 you can get the car. >> not in the premium market it is about desire if the cars are on the ground and nobody wants it. melissa: it is marketing then. >> supply cast to be demand one short we are not that far from the sweet spot. melissa: but supply and demand may not be crossing at the right point*. i was an economics major. why not raise the price?
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and shake out the market? there is a disconnect cynic in the car business you have to plan not for the tuesday or the one year period. we have the 20% increase. melissa: is as range rover or is it the economy doing better? who also sold jaguar. >> the economy is doing better especially in the premium market. this is the massive weekend the first jaguar sports car launch for the first time in over 50 years. people are already saying i want this car. melissa: said they are beating down your doors? >> they are smart people. melissa: what do you mean? there is no resale value you drive the car off a lot it lose value of around the city's image that is not the case with the range rover.
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it is the opposite but high access to a the brand and that is a recipe for success melissa: i guess the economy is doing better than i think. any plans to step up production? are the dealers mad? >> there always mad at me. they know we have a proliferation project we are just launching range rover four point* $6 billion per year. melissa: a good sign for the economy. carl icahn chalking up are rare loss of a major stakeholder in transocean and the offshore drilling a jan but they rejected a $4 per share dividend. not to a total loss however he did win a seat on the company's board shares closed down more than 1%
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today. the energy department approved a second terminal to liquefied natural gas and report energy is allowed to export 1.4 billion cubic feet of 20 more requests are currently waiting for approval and oil futures climbed for the third straight session by solid economic data. rising close and hundred dollars a barrel and privacy fears coming hand in hand now congress is stepping in. we will ask the blocker who loves it so much he showers with it on. money coming up. we know a place where tossing d turning have
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♪ melissa: everyone is going over the google glass, wearable computers set to be released later this year, but here comes a slew of issues and potential for misuse. congress is now questioning google about google glass privacy concerns. are they overreacted, and can
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they limit the technology, which is hard to say. all right, with me now is robert who has a pair of glasses with him that he probably wears everywhere, and i do mean "everywhere," even in the shower. wow. why, first of all? you tweeted that picture. you have no concern about privacy. >> my wife did, shot the photo of me. we were fooling around because, you know, one of the blogs i wanted to write was how water proof are they so i was funny, and said, oh, the shower, see if they work. melissa: they are water proof? >> nay are. they are designed to be worn outside in the rain and storms and stuff, so, of course, it made sense it survived. melissa: i don't understand the desirability. why do you want to wear your phone on your face? >> for a lot of reasons. one, i don't have to look down at the phone taking a direction
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to the studio. melissa: not distracting? >> it's above the eye line. it's up here. also,,it's off most of the time. i have to impel is to come on. that was another thing i didn't understand until i got it that i have to turn it on and then say, okay, glass, take a picture. >> do you feel ridiculous? >> i do because it's new. melissa: and, i mean, what about that? what about driving a car and everything else? a phone is a distraction so this is a super distraction in prompt of your face. >> it's less because even if you try to look at the map, i'm looking at the road ahead of me, not looking down at the navigation system or, worse, looking at the phone atrying to hide that because that's illegal. melissa: we could be having a normal conversation, and you are recording, taking pictures, anything like that?
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>> you'll know i record because the light comes on. melissa: bet you can turn it off. >> no, google made it impossible. it's always on when i take a picture of you or i say, okay, glass, okay, glass record a video, and right now, it is. melissa: is it the android system? nobody can hack in and shut the light off? i bet they can. >> it is, and i'm sure a hacker will figure it out on tape it, all sorts of fun things people try to do, but i could have been recording you on the cell phone. melissa: you could, but if you wear that, people get -- >> believe me, if they are looking at you like this -- melissa: well, that may happen all the time anyway. google agreed to pay $7 million in 38 states to settle charges that it's collecting data, and google is one where people are
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nervous about their own privacy and how they collect things to make money off and resell it, so by putting -- >> first of all, there's no ads, and it's clear that google is moving the company into a new era of commerce where we are going to talk to the glass and say, show me the starbucks or captain's deli, which i did, and it took me there. melissa: god love them, we want them to make mooey, but it is intrusive on the face, and they could collect data. the government is involved. you worry about face recognition data. some worry you put those on, you point it at someone, and, immediately, you know, you see their name, address, you know, their information, their age, what they did -- >> that's probably coming, but not in this product. the battery life is not long enough to do that. melissa: but it will be. >> next ten years. melissa: government worried about the progression of that, and should i be concerned about the progression? i don't think so. you can do that with a smart
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phone. melissa: let me try them on. >> yeah. it's two-thirds the smart phone and requires a smart phone to work. you can just touch it to turn it on. melissa: okay, now i'm watching myself. it is distrafficking, there's a screen blocking what i'm looking at. i can ask it a question? >> let me turn them on. melissa: okay, glass, record a video. i'm recording a video of you. i could be doing this anyone all the time i'm talking to. >> other than the battery going dead. a six-minuted video and battery is down 20%. that's something to be concerned with. also, you know, it only lets you shoot 10-second video, not streaming video. it doesn't let you record a long
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video. melissa: find me a range rover. no? it's not doing anything. am i doing it wrong. >> yeah, probably. you have to get into the okay, glass screen, google, range rover, 20 20* 13. melissa: not working. oh well. >> you have to touch it to turn it on. there you go. melissa: okay, glass, google a range rover. no network connectivity. it's blinding. what is the future for this device? do you think everybody's going to be making these and selling these? >> yeah, i saw another company building sports goggles with a display for bicycling so you can see all sorts of stuff like your heart rate and stuff like that. over the next ten years, there's going to be a range of these. i was at sri, where siri and the mouth and the internet came from, a big research lab, with
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augmented reality binoculars that are mind blowing. melissa: you're into it? >> i already bought it. melissa: all right, thank you so much, thanks for bringing them in. qirn sigh jones, the most influential music figure in history making stars out of michael jackson and bono. nowhere near slowing down. i i sat down with the legend to see where the opportunity lies within music, and all the music we played today other than the one you hear now are the ones jones wrote and produced as a tribute to him. at the end of the day, it's all about money and music. there we go. ♪ ♪
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♪ melissa: won 27 gram jmy and worked with and developed some of the biggest names in music from frank to michael jackson to bono. the legendary quincey joapsz, seen and done it all, but at 80,
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he's starting a new chapter with playground sessions, bringing musical education to children. that's not all. he's a partner in spotify, now facing a major competitor as google announced just this week that it is launching its own music subscription streaming service. i had a chance to sit down with him to talk about how the business of music is changing and what he sees as the bilgest throat to the industry today. >> it's 98% piracy everywhere on the planet. the technology's too late. once we did cds and dvds and digital, once we got into digital, cds and dvds, everyone is is, but vinyl was not like that. you can do millions of records off one cd. it's everywhere. it startedded back with fanning, on my financial now, and the con cosh yum and allen cay who
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started it all, and if they listened to him, we wouldn't be in this shape. he was 18 years old just playing around with p2p, you know, full access music, but we e are on each other's side now. melissa: his biggest concern are muse cigses working for years, but still unable to support themselves. >> for the young people i care about it, you know. i have a hard time convincing a child of mine, now, to become a musician because they don't get paid for it, they can't eat or pay their rent. melissa: his passion for children led him to partner with chris vans, his newist music adventure, play ground sessions. take away the need for expensive private lessons that most families can't afford and use popular music to hook and inspire kids instead of traditional scales. >> you know, the basic ideas is
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it's a downloadable software to work for pc and mac. you know, right from the beginning, you go into an itunes-like store and choose the song you want to learn from, so we do arrangements of compositions of rookie level, beginner, just starting, and then you advance to more interimmediate level through advanced. melissa: it's not the only current project, not surprisingly, he's working with steven spielberg on a film to show how essential music is to ore everyday lives. >> we are planning to do a film, i don't know how much it'll help or not, called "the day all the music stopped" because my beat down in my soul i feel music will be the last thing. you can't live without it, nobody can. they have so much of it, they tick it for granted, and the first part of the film, smother with music anded radio, tv, and everything, and then in the very -- at that point, we strip
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all of it out, no music, just sounds. see -- i can never pull this off in reality because somebody would have an ipod somewhere, but i have to talk to spielberg about it, get some stuff like that going. melissa: so what keeps him motivated? working with new young artists, music, spotify, but it's not really all about money. >> i come from a school of old school, with bboppers, never thought about money or fame, i mean, never. doing thriller, i didn't think about the records. do something that gives me goose bumps here, and turned out to be the biggest selling record in the history of music. my mind doesn't go that way. it's not my thing. never has been, and everything i do is i love is there, what happens. it's a good feeling. melissa: i bet it's ad good
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feeling. that was fun. next on money, the power ball jackpot hits a record $600 million, and, yes, i'm already a rationally fantasizing about winning it. you are too. we'll have fun with where you can throw all that cash next. you can never have too much money. or too many power ball tickets probably. ♪
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♪ melissa: time for fun with spare change. today, joined by a fab few and thanks to both of you for doing this on a friday. all right. first step. you might want to get in on this if you have not already. because there was no winner in wednesday's power ball drawing, the jackpot is skyrocketing at $600 million. wow. the most ever for a power ball. what would you do? >> all i want is a jet. i don't want to fly commercial anymore or lines to security, drink as much bottled water as i can. melissa: how much -- >> how much do they cost? >> you don't want to buy one, just fractional ownership with the cost of fuel. melissa: noing -- no. that's good, fractional
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ownership. >> there you go. it's a small portion of that, it's not -- melissa: what would you do? >> investment 432 pack avenue, $78 million, a full floor, worth a hundred. i would do that, hands down. be at the top of the world. melissa: the most famous private island in greece, scorn yows, buy it three times over. greece is iffy. >> it is. melissa: get in on the bottom, though. you know what they do to you in taxes. >> yeah. >> that'd be tough. melissa: i don't know. you want to make sure you keep track of the lottery ticket if you play, especially if you win. this illinois man was given an ultimatum to clean out the cookie jar, full of tickets, or she'd throw them away. good thing she didn't toss them because turned out one of the tickets was a big winner, 4.85 million. can you believe it?
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he didn't know it. it was sitting in the cookie jar, cleaned it out, went in, and said, you know, scan them make sure before i throw them away that they didn't win, but we had 5 million dollars. >> that's actually a really nice story. it was a gift his daughter who passed away gave it to him, he found it in there. but check your tickets, people. look at what's going to happen this weekend. check the tickets. >> manage money carefully. 70% of lottery winners blow it within a couple years. this will be one of them. the house is in foreclosure, give money to the church. melissa: could you blow $600 million? >> i'm going to help people first. >> this is smaller. melissa: i'm talking about when i win tonight or tomorrow, will i be really, blow $600 million? >> the chance in winning is 1 in 200 million. melissa: whatever, haterment i'm not sharing with you then. the good luck theme of mcdonald's employee in washington worked at a restaurant when she looked what
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was her stolen suv, and it was. she called the police, and the 22-year-old woman who stole the car was air forced. don't you think that that woman should have made an effort to drive further away from where -- >> not necessarily. after i hijack a car, i need the big mack and all beef special, cheese, lettuce, pickle, all sesame seed bun. that's what i crief after hijacking. melissa: for my death row meal, i'd get mcdons. >> i'm a mcflurry person. melissa: new yorkers are up in arms over recent controversy which may not be a surprise. an artist living in a glass apartment took very liberal arian artistic license and snapshots of the neighbors without them knowing. one woman bending over, and he took that through the window, and he's selling them. is this art or tasteless?
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>> it crosses a line. i had a building like that, and i thought somebody was looking in. taking pictures? i did move out. on your hands and knees scrubbing. >> i know this building, and i know people who live in the building, and i heard about the story prior to it coming out. melissa: outraged? >> they were outraged. it's invasion of the privacy, and how he did it was completely inappropriate. now, i'm glad it was not me in my apartment because what he would have seen -- melissa: really? >> would have just been -- melissa: like what? >> walking in my undistractings all the time. >> are there kids in there? >> right. melissa: good naked and bad naked. [laughter] so to close out the week, tom sullivan has words on what's going on in washington. >> we are funny people. generation after generation has been told that history repeats itself, so learn from it.
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somehow, we don't. every consultant preaches that when bad news strikes, get out the dirty laundry quickly and fully making headlines, but goes away faster than showing and telling only bits and pieces of the story. we all heard the admonition that the coverup is worse than the crime. why have smart people entrusted to run the government ignored all the sage advice? john did it in the water gate hearings. he could not recall was the favorite answer. know eric holder is sounding the same. he knows nothing, just like sergeant schulz. he rescued himself from the associated press, but fort to tell anyone and doesn't know when he did it. the silver lining is that people are waking up. more and more citizens are getting lulled into trusting big government in a republic where it's healthy to have a good dose of skepticism, and it looks like we are getting served a plait full. melissa: you bet you.
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thanks, tom. watch his show this weekend at 7 and 10 p.m. saturday, and on sunday at 7 a.m. and 7 p.m.. happy friday, everyone. thanks to you. "the willis report" is next. gerri: hello, everybody. i'm gerri willis. tonight on "the willis report," drivers seeing red, a surge in red light tickets after authorities shortened yellow light times. power ball jackpot is now $600 million. are you looking to press your luck? we'll tell you how to do that. we go in fashion at the brand new pet hotel. don't miss how the pooches get pamperedded. we're on the case tonight on "the willis report." ♪ ail that and more